Pushed by ISIS, Iraq and Kurds Come Closer to a Deal
Publisher: Foreign Policy
Author(s): Keith Johnson
Date: 2014
Topics: Cooperation, Extractive Resources
Countries: Iraq
The Islamic State and the threat it poses to Iraq's survival have unleashed a torrent of nightmares and horror, but there may be one apparent bright spot: The terrorist group's steady advances appear to be pushing Baghdad and Iraq's restive Kurdish minority closer to a resolution of the oil disputes that have bitterly divided them for years.
Late last week, Baghdad and Erbil reached a breakthrough of sorts, announcing a preliminary deal under which Iraqi Kurdistan will give the Iraqi government about 150,000 barrels of oil a day in exchange for $500 million in immediate cash payments. Kurdish officials said the deal, which became effective Wednesday, Nov. 19, paves the way for further talks in Baghdad as soon as next week to address the real nub of the question that has long poisoned relations between the two sides: How should the revenues from Iraq's oil income be shared among the different regions?